HONG KONG SAR - Media OutReach Newswire - 25 July 2024 - On July 24-25, an off-site session of the Eastern Economic Forum (EEF) was held in Hong Kong. Representatives from Russia and Hong Kong discussed the expansion of trade and economic ties and new opportunities for cooperation. Following the event, it was noted that entrepreneurs from Hong Kong plan to present their investment projects at EEF-2024. The EEF is organized by the Roscongress Foundation.

From the Russian side, the session was attended by Igor Pavlov, Deputy Director of the Roscongress Foundation and Director of the Eastern Economic Forum, Vadim Savin, Acting Consul General of the Russian Federation in the Hong Kong Special Administrative Region of the People's Republic of China, and Alexey Maslov, Director of the Institute of Asian and African Countries at Lomonosov Moscow State University.

The session was held in the format of a series of meetings with representatives of major business associations and the Hong Kong business community. Participants discussed the development of ties between Russian and Hong Kong companies, paying special attention to the prospects for trade and economic relations and strengthening business partnerships.

On the first day, a meeting was held with a representative of the National People's Congress from Hong Kong and the Chinese General Chamber of Commerce, which includes representatives of industry, trade, development, and financial business. On the second day, a meeting was held with the Hong Kong Trade Development Council (HKTDC).

It was noted that Hong Kong, as a major global financial center, plays a key role in the international economy. Its openness to markets, favorable business climate, and innovative environment make it an attractive partner for Russia. Hong Kong has unique experience and capabilities that can significantly contribute to the development of the Russian financial market.

"Cooperation with Hong Kong opens new horizons for Russian business. This financial center not only expands our economic prospects but also serves as a bridge for innovative and cultural exchanges. We are confident that strengthening our relations will bring mutual benefits and promote sustainable development," said Vadim Savin.

In 2023, a significant increase in bilateral trade volume was recorded, reaching USD $6 billion. Among the promising sectors for expanded cooperation between Russia and Hong Kong are electronics, agricultural products, and non-ferrous metallurgy.

"Russian-Chinese relations play a key role in forming a stable and mutually beneficial economic partnership. We see enormous potential in developing trade and economic relations with Hong Kong, and the meetings within the framework of the Eastern Economic Forum allow us to identify new areas for cooperation," emphasized Alexey Maslov.

During the off-site session, the Roscongress Foundation conducted a comprehensive presentation of opportunities for foreign businesses, showcasing projects such as the St. Petersburg International Economic Forum, the Russian Tourism Forum "Let's Travel!", Russian Energy Week, the Russian Design Industry Forum, and the Eastern Economic Forum. These events introduce the international community to Russia's investment potential and open up new opportunities for cooperation.

"The Eastern Economic Forum includes panel sessions, roundtables, business breakfasts, and business dialogues with leading partner countries in the Asia-Pacific region—all of which facilitate constructive dialogue and exchange of experience. Moreover, it is a unique opportunity to get acquainted with Russian investment projects in the Far East, consider options for participation, and establish direct contacts with potential partners. And right there at the forum, conclude profitable agreements," said Igor Pavlov.

The Eastern Economic Forum, which annually gathers representatives of business, government, the expert community, and international organizations, will be held from September 3 to 6, 2024, on the campus of the Far Eastern Federal University in Vladivostok. The forum will become a major international platform for discussing issues of economic cooperation in the Asia-Pacific region.

Hashtag: #EasternEconomicForum #EEF

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About The Roscongress Foundation

The Roscongress Foundation is a socially oriented non-financial development institution and the largest organizer of national and international conventions, exhibitions, business, public, youth, sports, and cultural events. It was established by the decision of the President of the Russian Federation.

Founded in 2007, the Foundation aims to facilitate the development of economic potential, promote national interests, and strengthen Russia's image. The Foundation comprehensively studies, analyzes, forms, and covers issues of the Russian and global economic agenda. It provides administration and promotes business projects and investment attraction, fostering the development of social entrepreneurship and charitable projects.

The Foundation's events gather participants from 209 countries and territories, with over 15,000 media representatives annually working at Roscongress venues, and more than 5,000 experts involved in analytical and expert work in Russia and abroad.

The Foundation cooperates with UN structures and other international organizations. It develops multifaceted cooperation with 212 foreign economic partners, associations of industrialists and entrepreneurs, financial, trade, and business associations in 86 countries, with 293 Russian public organizations, federal and regional executive and legislative bodies of the Russian Federation.

Official Telegram channels of the Roscongress Foundation: in Russian – t.me/Roscongress, in English – t.me/RoscongressDirect, in Spanish – t.me/RoscongressEsp, in Arabic – t.me/RosCongressArabic. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.